Bitcoin ETFs Hit Record $3.62B: BlackRock’s Mighty Streak Snapped

The Bitcoin ETF sector, which includes GBTC, IBIT, FBTC, ARKB, BTCO, and HODL, has seen a significant increase in total daily trading volume. hitting It reached a peak of $3.62 billion for the first time in four weeks. While the market is moving sideways, the ETF’s positive trend is a bullish signal for investors. This was in contrast to the previous day’s spill.

Net outflows from the Bitcoin Spot ETF totaled $121 million, according to SoSoValue insights. Grayscale ETF GBTC experienced net outflows of $130 million in one day. Fidelity’s ETF FBTC had the highest net inflows among Bitcoin spot ETFs, with $5.61 million in inflows within one day. This was followed by Ark Invest’s ETFs ARKB and 21Shares, which saw net inflows of $4.17 million in one day. Additionally, BlackRock saw no inflows yesterday, ending a 71-day streak of capital inflows.

In other news, HashKey Exchange has completed its first crypto subscriptions for the Bitcoin Spot ETF and Ethereum Spot ETF from Hong Kong Bosera International and HashKey Capital. Cryptocurrency redemption allows you to retain the underlying asset, providing cost and liquidity benefits. Fundraising for a Hong Kong cryptocurrency ETF begins today, with listing on the Hong Kong Stock Exchange scheduled for April 30th.

Tron Weekly recently reported that while US ETFs are considering introducing an Ethereum ETF, Hong Kong is preparing to launch a Bitcoin and Ethereum spot ETF. The development, scheduled to begin on April 30th, marks a new chapter for the sector and establishes it as the world’s leading digital asset center. A key highlight is the design of these his ETFs. In contrast to traditional cash-settled ETFs, these instruments operate on a spot trading basis, streamlining the process of creating and redeeming shares using the underlying Bitcoin and Ethereum directly.

Bitcoin ETF fee war begins in Hong Kong

This feature has been noted by leading crypto trading firm Wintermute, and the spot model will become more attractive to crypto natives, market makers and digital asset exchanges due to its greater efficiency and arbitrage opportunities. It suggests that it is deaf. In addition to closely tracking the actual market prices of Bitcoin and Ethereum, this physical mechanism also addresses concerns about market manipulation and excessive volatility, which is a point of contention between the US SEC and ETF issuers, among others. are doing.

In the latest update, Harvest Fund’s massive $230 billion Bitcoin ETF has been launched in Hong Kong with a zero-fee structure, sparking a fee war in the cryptocurrency space.

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